Magnitude is a Tucson brand marketing and media agency. Our services include employment contracts, startup support, data management, inventory control, and social media marketing solutions in both digital and print.
What are Employment Contracts?
An employment contract is “a signed agreement between an employee and employer.” This document is meant to describe the rights and obligations of each party. It specifies the duties and rules the employee has to meet. Additionally, it outlines the conditions under which the employer or the employee can lawfully terminate the contract.
A mutually beneficial agreement
Once in place, employment contracts guard the relationship between the employer and the employee. They assure a legal frame of reference in the event of conflict. Besides, they create a relationship of trust between the parties involved. Furthermore, contracts come with the added benefit of keeping the employer away from possible legal and public issues.
What should employment contracts include?
Employment contracts can be useful for both the employer and the employee. On one side, they offer job security to the employee, while on the other hand, they guard the employer against the release of confidential information. Moreover, they document new employees and add a professional look to your business. Here is a short list of key things to include in your contracts.
An employment contract is more than a signature
Rights and obligations
Every contract that spells the duties of each party also lays the basis for a future great partnership between the two. That being said, you can start with responsibilities, salary, benefits, and overtime policies. Also, you should include when you can reserve the right to transfer the employee to a different department and what can lead to the end of employment.
Confidential information
You want to keep your business practices to yourself. Whether it is unique recipes, software, or company policies, make sure you have a few lines that clearly state this info is confidential. Of course, it wouldn’t hurt to specify that the employee can’t disclose it even after the end of the contract.
Set your standards
Begin by writing down exactly what you expect your employees to do. This can take time, especially if you just started, but it can make a huge difference down the road. You can think about what you want and don’t want to see in your company. Think of what your staff can do, how you want them to perform, what you expect them to do when they can’t handle a situation, and so on.
Discussing the terms of a contract
How can we help with your employment contracts?
Drafting a contract is not an easy task. That’s why Magnitude is there to help you along the way. We are business professionals that own a portfolio of our own companies. Founded by tech entrepreneur John Jacobs, we focus on business development and lead generation. If you need help with creating employment contracts, we are here to make it happen. Contact us so we can set up an appointment to guide you through.
If you would like to learn more about employment contracts, check out these articles.
“What Terms Should be Included in an Employment Contract?”
“5 Items You Should Have in Your Employment Contract.”
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